Sensex tanks over 200 pts on weak CPI, IIP data

The S&P BSE Sensex plunged over 250 points in morning trade after retail inflation spiked in April while industrial growth stagnated, which dented any chance of a rate cut by the Reserve Bank of India in the June review. The Nifty50 slipped below its crucial level of 7,850 weighed down by losses in power, oil & gas, metal, consumer durable, capital goods, and banking stocks.